... whose magnitude can be measured over a period of time are called flow variables. NNP at factor cost is the NNP at the production point right ? Kerala Plus Two Macroeconomics Chapter Wise Questions and Answers Chapter 2 National Income Accounting Plus Two Economics National Income Accounting One Mark Questions and Answers Question 1. Financial accounts regard depreciation as period cost which varies with the lapse of time, whereas in cost accounts depreciation is regarded as variable expense. 2. The GDP deflator is equal to i) Real GDP-Nominal GDP […] D) the increase in the economy's stock of … Per capita income B. base year’s price is called National Income at Constant Prices. C) net investment. Disposable income C. Inflation rate D. Real national income. Interest on the national debt is included in a.NNP b.GNP c.Personal income d.National income Ans .C 43. For instance, income of a person is a flow which is earned during a week or a month or any other period. Calculate the aggregate value of depreciation. PART B-INTRODUCTORY MACRO ECONOMICS Unit VI: NATIONAL INCOME AND RELATED AGGREGATES: KEY CONCEPTS Macro Economics: Its meaning Consumption goods, capital goods, final goods, intermediate goods, stock and flow, gross investment and depreciation. B) the amount by which the capital stock is depleted during the accounting period. Circular flow of income Methods of calculation of national income Value added method (product method) Expenditure method Income … When goods and services are produced in a year valued at current years prices is called (a) Real GDP (b) GDP at constant prices ... 40.The smallest national income accounting aggregate is usually ... 42. In the national income accounts, depreciation is called A. consumption of fixed capital B. negative investment C. capital taxation D. loss due to wear Answer D. RE: Indian Economy - National Income - MCQs with answers - Part 1 -Sk (08/30/18) Yes GNP is GDP of a country added with its income from abroad. 1 Answer to 31) In national-income accounting, "depreciation" refers to A) a term used in accounting, not economics. Try this amazing Economics Quiz: National Income Trivia Questions! Also explore over 273 similar quizzes in this category. This is because first a company has to pay corporate income tax (T C) to the government out of its earned income. quiz which has been attempted 2796 times by avid quiz takers. The value of national income adjusted for inflation is called A. National Income at Constant Prices :It is also called as real national income. National Income: Concept # 4. National Income Multiple Choice Questions :- MCQs. Net factor income from abroad = Rs.100 crores. ... • Depreciation is an accounting concept. P = Prices of goods and services prevailing during the current accounting year. But in cost accounts, the basis may be machine hours, units of output, etc. 3. Ans: National Income = Rs.850 crores = Rs.1100 crores. The value of Indirect taxes – Subsidies was Rs 150 crores and National Income was Rs 850 crores. GNP – depreciation is called (a) GDP (b) NNP (c) PCI (d) PI Answer: (b) NNP Question 2. Disposable income C. Inflation rate D. Real national income. RE: Indian Economy - National Income - MCQs with answers - Part 1 -Brinda Manuel (09/06/18) For 8th question answer is a or b? Per capita income B. MEPA Course National Income Accounting 10th January, 2019 Macroeconomics • Macroeconomics is concerned. The average income of a country is called A. National Income Accounting and related concepts -MCQs ... Q.17 Goods which are not used in the production of other goods are called: (a) Capital goods (b) Consumption goods (c) Producer goods (d) Intermediate goods. 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